A pair of new contracts has given a lift to IXICO PLC (LSE:IXI, OTC:PHYOF), the London-listed neuroscience data specialist whose shares trade at just 12p.
The company has secured work on the development of a blood-based biomarker diagnostic test, a fast-growing area of research that could make screening for neurological conditions far simpler and cheaper.
It has also extended an existing contract linked to an Alzheimer’s disease clinical trial.
Together, the two deals are worth around £1.2m, to be recognised over several years, but their strategic value outweighs the headline number.
The blood-based biomarker project shows IXICO’s expertise is relevant beyond imaging data, positioning it for a future in diagnostic tools rather than purely trial services.
The extension, meanwhile, underlines its ability to deepen existing client relationships, an important signal for a company seeking consistent, profitable growth.
Cavendish says the wins validate IXICO’s focus on building long-term partnerships and demonstrate traction in new markets.
With a market value of £11m and a target price of 24p, the shares look modestly rated for a business aiming to return to steady revenue growth. For patient investors, the latest contracts hint that the turnaround story is beginning to take shape.
Up 12% earlier in the day, the stock settled back to 12.25p, up 0.45p.